April 28, 2017

Stunt or Trend? So What?

Do you remember this little ditty from a few days ago?

When I talk about low cost customer acquisition strategies, this is exactly what I am talking about.

Remember, last Christmas Nordstrom Rack made news for selling an $85 brick. So obviously, somebody is trying some sort of strategy to garner attention.Mainstream Media and Trade Journals need something to talk about - they only attract advertisers when they attract eyeballs, and they don't attract eyeballs by being boring. So this kind of stunt is like catnip for those folks.Many professionals (especially those who advocate emptying the company coffers for Google/Facebook) aren't fans of this marketing tactic. That's fine. But no complaints when it becomes too expensive to advertise in either channel, and no complains when response falls off in either channel. You made your bed.Here's another thing readers don't like. When I suggest that this requires a Marketing / Merchandising partnership, I get the eye rolls. "Merchants don't let us do anything, they're stupid and bossy and they think we are idiots." Try making a merchant look good, and you'll be surprised how they respond to you. Modern marketers spend more time with vendors than they spend with merchants. It wasn't always like that.Google and Facebook have been using us for a decade. And Amazon / Echo are about to judge how you look (click here). How are we going to compete against a device that tells us we look terrible and then ships us an alternative outfit within one to forty-eight hours while simultaneously generating traffic that Google / Facebook re-directs to their preferred partners?We need to work hard on developing low-cost / no-cost customer acquisition programs. I know you don't want to hear this, and I know many of you disagree. How is your current strategy working for you?

Kevin Hillstrom

Kevin Hillstrom, President, MineThatData

Kevin is President of MineThatData, a consultancy that helps CEOs understand the complex relationship between Customers, Advertising, Products, Brands, and Channels. Kevin supports a diverse set of clients, including internet startups, thirty million dollar catalog merchants, international brands, and billion dollar multichannel retailers. Kevin is frequently quoted in the mainstream media, including the New York Times, Boston Globe, and Forbes Magazine.

Prior to founding MineThatData, Kevin held various roles at leading multichannel brands, including Vice President of Database Marketing at Nordstrom, Director of Circulation at Eddie Bauer, and Manager of Analytical Services at Lands' End.

FAQ For Vendors / Content Providers

1 - I do not accept advertising on this blog.

2 - I do not accept unsolicited content, including interviews, press releases, podcasts, discussions, posts, or other associated content promoting your products, services, or events. This blog is designed to promote my products, services, and content.

3 - As a continuation of (2), I do not accept guest blog posts, regardless of your situation. And I will not link to your blog post or white paper.

4 - I do not exchange links. In fact, I no longer publish reciprocal links to other websites.